UNIT 1 TASK 1 Assessment Answer Boooklet Task 1 - BSBPMG430

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<p>ASSESSMENT ANSWER BOOKLET</p><p>FULL NAME</p><p>Laura Menegat Zanchin</p><p>STUDENT ID</p><p>NVR 220421</p><p>TERM</p><p>5</p><p>YEAR</p><p>2024</p><p>UNIT NAME</p><p>Undertake project work</p><p>UNIT CODE</p><p>BSBPMG430</p><p>DUE DATE</p><p>20/10/2024</p><p>DATE SUBMITTED</p><p>TRAINER NAME</p><p>Tamzid Farhat</p><p>Student Declaration</p><p>By submitting this assessment, I acknowledge and agree that:</p><p>1. I declare that this assessment has been completed by me and is my own work.</p><p>2. I have read and understood the assessment requirements for this unit.</p><p>3. This assessment is submitted in accordance with the NVR Copying and Plagiarism Policy. I also understand the serious nature of academic dishonesty (such as plagiarism) and the penalties attached to being found guilty of committing such offences.</p><p>4. No part of this assessment has been copied from any other source without acknowledgement of the source.</p><p>5. No part of this assessment has been written by any other person, except to the extent of collaboration and/or group work as defined in the assessment.</p><p>6. A copy of the original assessment is retained by me and that I may be required to submit the original assessment to the trainer upon request.</p><p>7. I am aware that assessments are completed within a simulated work environment.</p><p>8. I am aware of my appeal rights.</p><p>Student Name</p><p>Laura Menegat Zanchin</p><p>Date</p><p>16/09/2024</p><p>BSBPMG430</p><p>Undertake project work</p><p>Task 1 – Written Questions</p><p>List five (5) project management tools and explain their use in project management.</p><p>Gantt Charts, Critical Path Method (CPM), Work Breakdown Structure (WBS), Kanban Board, Project Management Software (e.g., Trello, Asana, MS Project).</p><p>Outline three (3) types of documents and sources of information that are used to define the parameters of a project.</p><p>Project Charter: This document gives a summary of the project's purpose, goals, and main deliverables. It serves as an official authorization for the project and ensures that everyone involved understands its overall objectives.</p><p>Scope Statement: This document clearly defines what will be included and excluded from the project. It helps set boundaries to avoid extra work that wasn’t planned and keeps the team focused on the main objectives.</p><p>Work Breakdown Structure (WBS): The WBS breaks the project into smaller, manageable tasks. It helps organize the work, making it easier to assign tasks, track progress, and manage resources effectively.</p><p>Explain the importance of planning for risks in a project and list three processes that can be used to identify risks as part of a risk assessment process for a project.</p><p>Risk Brainstorming: This involves gathering the project team and stakeholders to discuss and list possible risks. The goal is to think creatively and identify potential issues that could affect the project.</p><p>Risk Checklists: These are pre-prepared lists of common risks based on past projects or industry standards. By reviewing these checklists, project teams can ensure they consider various types of risks that might affect their specific project.</p><p>SWOT Analysis: This process examines the project's Strengths, Weaknesses, Opportunities, and Threats. By identifying potential weaknesses and threats, the team can recognize risks and develop strategies to address them.</p><p>Explain the importance of a risk management plan in identifying and managing risks for a project.</p><p>Systematic Identification and Analysis: The plan ensures that process of identifying potential risks is done efficiently at early development stage of the project. It encompasses procedures and methods of estimating the rate and level of each risk, thereby, providing a great opportunity to identify possible threats towards the accomplishment of the project.</p><p>Proactive Risk Mitigation: Because of this, the plan defines risk response strategies whereby the project teams can control and mitigate risks before they become large problems. This forward-thinking approach is very useful in avoiding hampering of such projects and at the same time it is useful in avoiding adverse impacts on the projects.</p><p>Resource Allocation and Planning: The identified risk management plan shows how resources are to be used when addressing specific risks; the budget for risk responses and contingency plans. This helps in making sure that there is enough capacity within a project when it comes to addressing certain risks that might have been observed within the given environment in the other case of implementing a risk management strategy throughout the various phases of a project.</p><p>Enhanced Communication and Coordination: The plan acts as a tool of communication that would facilitate the chance of passing the necessary information to all the stakeholders who would be required to weigh on potential dangers and the measures put in place to counter them. The first one is centered on the encouragement of the multi-disciplinary team and other stakeholders, towards achieving conformity and systematic approaches in the management of risks.</p><p>Continuous Monitoring and Adaptation: A risk management plan involves provision of steps for risk monitoring and risk review. This advantage makes it easier to adapt to new risks or changing nature of risks and make better formulations on how to handle them in the project.</p><p>Again, a good risk management plan should be implemented and used effectively to minimize likely risks in order to enhance protection of the project from probable mishaps that may interfere with success of the project involves.</p><p>Explain the process of risk avoidance in project management.</p><p>Risk Identification: The initial strategy in risk mitigation entails the following; Conducting the risk assessment exercise so as to determine the type of risks that are likely to have a bad impact of the project or not. This is comprised of powerful risk evaluation methodology that may include brainstorming, lecture with key players, and archival research to identify threats that may act as a threat to the project goals.</p><p>Risk Analysis: After risks are assessed and defined, these are evaluated to be disposed in a certain likelihood of occurrence and amount of loss. This analysis assists in identifying those risks that are likely to have an impact on the organization and thus calls for avoidance strategies. In risk analysis, it is necessary to assess the impact that a certain risk may cause and the possibility of its occurrence.</p><p>Risk Elimination or Modification: According to the above analysis, certain actions are proposed to either mitigate or avoid the risks that were learnt to be associated with the project aspects. This could involve:</p><p>Changing Project Scope: Reducing the coverage of work or the areas where potential high risks exist.</p><p>Revising Project Plans: Modifying timetables, assets or procedures to escape hazardous circumstances.</p><p>Selecting Alternative Approaches: Selecting other technologies, processes or suppliers which are less likely to pose a threat of introducing risks.</p><p>Implementation of Avoidance Strategies: After formulating the avoidance strategies they become part of the project plan. This entails changing the work to be done, allocation of resources as well as the timeframes for completion to include the risk avoidance measures.</p><p>Monitoring and Review: Risk control: This is the process of monitoring the effects of the risk avoidance strategies in order to establish whether they are effective in controlling the risks. There is therefore the need to conduct periodic refresher and changes in this aspect because of changes in the project environment and emergence of new risks.</p><p>Documentation and Communication: It is also important to document the risk avoidance procedures and relay them to all the interested parties so that the members understand the changes and the part they have to play when Implementation of the avoidance measures proceeds. Documenting and reporting precedents are critical to successful implementation and assist in preserving coherence of the project among the team.</p><p>Explain the use of risk mitigation strategies in project management.</p><p>Risk Reduction:</p><p>Take steps that will enable you reduce the likelihood or severity of a risk. For example when aiming at eliminating the probability of project failure, by employing more credible technology, or conducting more tests. The negative impacts are all in place if the risk materializes, hence the need to contain it to minimal harm as much as possible.</p><p>Risk Transfer: Transfer the consequences or the managing of a risk to another person. This could include out sourcing some tasks or buying an insurance cover to deal with such losses. Risk transferring makes it possible to reduce effects on the project team by offloading the risks to another person or group.</p><p>Risk Acceptance: Take into consideration that this risk is a possibility and be ready to deal with the aftereffect of the risk in the organization. This may be in the form of creating a call amount or producing a contingency plan. Accepting a risk is normally used where the probability of occurrence of a risk is more than the cost of managing such risk.</p><p>Risk Contingency Planning: In the case of risk occurrence, come up with mechanisms that will be employed to manage the risks. This includes developing action-oriented strategies and providing enough resources in case of such incidences. Risk management assures that there is a planned strategy in the occurrence of risks unfolding into actuality.</p><p>Monitoring and Review: Risk management should be viewed as an ongoing process that requires constant surveillance of the risks facing an organisation and the efficiency of existing treatments. Another advantage of carrying out frequent assessments is that it involves changes as new risks come up or as the project is evolving.</p><p>Explain the concept of risk acceptance in project management.</p><p>Acknowledgment: This is about the risk, what it can do and how often. This prevents a situation whereby some of the stakeholders end up not knowing that there is the risk and its ramifications.</p><p>Contingency Planning: However, in as much as this risk is taken, a risk management option is then planned to deal with the probable effect of the risk. Part of this might entail developed a contingency budget or coming up with an action plan that will be useful when the risk occurs.</p><p>Monitoring: Risk must be controlled continuously in order to monitor changes in the risk’s probability level and its potential impact. To this extent, there is ability to prepare for the contingencies that may be needed for implementation of the contingency plan.</p><p>Decision Rationale: As with the risks, the risks acceptance decisions are also taken with the help of cost benefit analysis standard where the cost of risk control or transfer is weighed against the impact of the risk. Where it is considered that the impact is controllable or else where the risk is small relative to the project objectives then it is acceptable to accept it.</p><p>Explain the importance of quality assurance processes and procedures to guide effective and efficient project management.</p><p>Consistency and Standards: QA processes are important since they create sets of rules and practices that help in increasing conformity across the projects’ results. This means that following some set quality standards, a team is able to offer deliverables that meet set quality standards and thus minimize the cases of variability and errors.</p><p>Preventive Approach: QA is a more proactive approach as compared to reactive means of dealing with defects and/or other problems. It enables the identification and intervention of issues that may arise during the implementation process hence enhancing the quality of the final project result as well as reducing cases of having to redo a project due to some unforeseen factors.</p><p>Continuous Improvement: There is always an element of feedback and on-going improvement in most QA procedures. Dutch et al., (2012) agree with the view of integrating review and assessment so teams can pinpoint facets that require improvement hence optimizing processes all the project development phases.</p><p>Stakeholder Satisfaction: This aspect assists in meeting the expectations of the stakeholders as well as their set requirements thus helping in the achievement of project deliverables in the right quality. This results to high satisfaction of the clients and can improve the score and reputation of the project.</p><p>Risk Management: QA processes facilitates in controlling risks and probability related to the quality issues. An analysis of these risks allows the project managers to take necessary measures in form of quality control in a bid to minimize these risks that may affect the flow of the project.</p><p>Documentation and Traceability: QA procedures include writing down other activities that have to do with quality, and the advantage of this is that there is a solid trace of all aspects having to do with quality in case of any hitch. These documents are informative for purposes of audit and during review of the project.</p><p>Resource Efficiency: QA processes help in optimisation of resources so that less resources are used by reducing wastage and redoing a process. In dealing with quality, a problem-oriented approach has the potentiality of reducing cost and time over runs in projects as well as optimal use of the resources.</p><p>Explain the importance of human resources processes and procedures to guide effective and efficient project management.</p><p>Recruitment and Staffing: This way, HR processes help make sure that the right personnel is used for the project in terms of their competencies. It is very important to hire the right workforce to implement the project because it damaging to have the wrong people on board.</p><p>Role Definition and Clarity: There shall always be a demarcation of duties at the workplace and these acts as a guide to ensure there is no confusion in terms of the kind of work each and every individual will be expected to do. It also fosters orientation in that while working in a team, each person understands what his or her roles are and how the share roles contribute to the accomplishment of the defined objectives.</p><p>Training and Development: Some of the processes of human resource management are to ensure that the necessary trainings and development programs are availed. This ensures that those in the different teams are equipped with necessary skills and knowledge to do their work as expected, address emerging issues and be in par with trends within the market.</p><p>Performance Management: In performance management system, the three key elements include goal setting, feedback and performance evaluation. This allows checking of performance on a regularly and identify any deviations which need to be corrected, reward employees and identify their areas of strength or improvement.</p><p>Conflict Resolution: Organization procedures are handy tools for handling or addressing any conflict that may be present among the team members. By dealing with conflicts early and in a constructive manner, one can easily help in avoiding negative influence in the work environment while avoiding situations where the conflicts may result in slowing down the project.</p><p>Motivation and Engagement: Human resource processes are all about maintain the engagement of the team members. This involves providing incentives like recognition programs, opportunities for advancement, and a favourable working climate and all are that lead to improved job satisfaction and thus enhanced productivity.</p><p>Resource Allocation: HR plays a critical role of assisting in proper deployment of human resource in line with the project requirements and requirements. This is about how workload is handled, allocation of work across teams and ways used to ensure that resources are optimally utilized.</p><p>Compliance and Legal Issues: This process helps to conform to the employment laws and regulations in the handling of staff in the project. This involves legal relations as well as handling of contracts, labour and as well as any legal or ethical concerns that may be relevant.</p><p>Explain the importance of</p><p>budgetary/financial processes and procedures to guide effective and efficient project management.</p><p>Cost Planning and Control: Budgetary processes include forecasting the costs for the project, formulation of budgets and the regulation of expenditures. This has a way of assisting with the proper control of monetary resources so that there is no way out of track with the project funding and expenses.</p><p>Resource Allocation: Financial procedures assist in logistical use of resources since expenses are sorted according to what is needed in a project. This means that unnecessary expenditure is avoided whereby resources are used where they would be most effective.</p><p>Financial Tracking and Monitoring: It is fundamental to track and monitor the flow of the financial operations with the help of the budget on a regular basis in order to spot the discrepancies and react accordingly. This assist in asserting financial control and altering the strategy in view of the finances to avoid straying off course.</p><p>Risk Management: Budgeting involves processes such as assessing, controlling and providing for future financial contingencies. In this context, project contingency funds and assessing financial risk management measures help project manager’s deal with the potential costs and their consequences.</p><p>Stakeholder Communication: Well-defined activities of financial flows facilitate transparent record and reporting on the financial situation of the project and interaction with stakeholders. This creates credibility and ensures that the various stakeholders are informed on the budgets that had been incurred in the entity as well as the corresponding financial performances.</p><p>Decision Making: Therefore, the financial data must be precise and actual to make the right decision at the right time. Managers employ financial data in the earning of decisions on; The direction of projects, changes in the scale of a project, and altering its financial structures.</p><p>Compliance and Accountability: The field of financial processes involves the compliance with financial legislations, regulations and organisational standards. Accurate documentation brings efficiency in accountability and coordinated compliance with the set procedures to avoid confusion when audited.</p><p>Cost Efficiency: An effective set of budgeting procedures are useful in indicating possibilities for cost control and making cost reduction. Through quantitative expenditure methods and finding the balance on the cost, projects can have better and improved efficiency by the maximization of worth for value of money.</p><p>Explain the importance of record keeping processes and procedures to guide effective and efficient project management.</p><p>Accuracy and Accountability: Another benefits of keeping records is that all activities in the projects, decisions made and transactions carried out are well recorded. This leads to accountability as decision responsibility is easily tracked and anyone implementing such a decision can be easily held responsible.</p><p>Compliance and Auditing: Good record keeping also assists in compliance in relation to the regulatory as well as organizational frameworks. It makes auditing easier by offering proof of compliance through different standards, policies or procedures, for legal compliance.</p><p>Performance Tracking and Evaluation: Records assist in monitoring the progress of the projects and whether the organisation is meeting the targeted goals and achievements. They give useful information to the assessment of the progress of the project and in the identification of challenges.</p><p>Knowledge Management: Project documentation provides a database of knowledge and information that may be carried forward throughout a project’s life cycle and for next project. These assist in the sharing of knowledge and also aid in storage of important information and lessons learnt.</p><p>Decision Making: It is therefore clear that effective records ensure that one gets timely information on something/ someone as well as updated information on the event / person in question thus enabling the decision maker to make an informed decision. They assist the project managers to review and evaluate previous work and anticipate other goals that are likely to be encountered in the future and consequently, review the whole project.</p><p>Risk Management: Risk assessments that include detailed record should be made since this will assist in identifying, assessing and managing the risks. That is why documentation of past occurrences or issues can go a long way in helping organizations or companies to avoid having a repeat of similar problems in future.</p><p>Communication and Coordination: Documentation helps all the members of the team and other stakeholders involved have full record of the information. Since everyone is aware of the details of the project and what is being done, it enhances the flow of information and hence the coordination.</p><p>Dispute Resolution: Records help in solving cases of disagreements since good records are always relevant when dealing with such cases. In this case, they can be employed for purposes of removing ambiguities and providing evidence in the consideration of fair outcomes.</p><p>Project Continuity: Records are vital in the context of project management because they make it possible to have continuous documentation of activities especially when there is transfer of staff. New people can easily refer to them to identify their roles while the management of project changes keeps the momentum going.</p><p>image1.png</p><p>ASSESSMENT ANSWER BOOKLET</p><p>FULL NAME</p><p>L</p><p>aura Menegat Zanchin</p><p>STUDENT ID</p><p>NVR</p><p>220421</p><p>TERM</p><p>5</p><p>YEAR</p><p>2024</p><p>UNIT NAME</p><p>Undertake project work</p><p>UNIT CODE</p><p>BSBPMG430</p><p>DUE DATE</p><p>20/10/2024</p><p>DATE SUBMITTED</p><p>TRAINER NAME</p><p>Tamzid Farhat</p><p>Student Declaration</p><p>By submitting this assessment, I</p><p>acknowledge and agree that:</p><p>1.</p><p>I declare that this assessment has been completed by me and is my own work.</p><p>2.</p><p>I have read and understood the assessment requirements for this unit.</p><p>3.</p><p>This assessment is submitted in accordance with the NVR Copying and Plagiarism</p><p>P</p><p>olicy. I also understand the serious nature of academic dishonesty (such as</p><p>plagiarism) and the penalties attached to being found guilty of committing such</p><p>offences.</p><p>4.</p><p>No part of this assessment has been copied from any other source without</p><p>acknowledgement o</p><p>f the source.</p><p>5.</p><p>No part of this assessment has been written by any other person, except to the</p><p>extent of collaboration and/or group work as defined in the assessment.</p><p>6.</p><p>A copy of the original assessment is retained by me and that I may be required to</p><p>submit th</p><p>e original assessment to the trainer upon request.</p><p>7.</p><p>I am aware that assessments are completed within a simulated work environment.</p><p>8.</p><p>I am aware of my appeal rights.</p><p>Student Name</p><p>Laura</p><p>Menegat Zanchin</p><p>Date</p><p>16/09/2024</p><p>ASSESSMENT ANSWER BOOKLET</p><p>FULL NAME Laura Menegat Zanchin</p><p>STUDENT ID NVR 220421 TERM</p><p>5</p><p>YEAR</p><p>2024</p><p>UNIT NAME</p><p>Undertake project work</p><p>UNIT CODE</p><p>BSBPMG430</p><p>DUE DATE</p><p>20/10/2024</p><p>DATE SUBMITTED</p><p>TRAINER NAME</p><p>Tamzid Farhat</p><p>Student Declaration</p><p>By submitting this assessment, I acknowledge and agree that:</p><p>1. I declare that this assessment has been completed by me and is my own work.</p><p>2. I have read and understood the assessment requirements for this unit.</p><p>3. This assessment is submitted in accordance with the NVR Copying and Plagiarism</p><p>Policy. I also understand the serious nature of academic dishonesty (such as</p><p>plagiarism) and the penalties attached to being found guilty of committing such</p><p>offences.</p><p>4. No part of this assessment has been copied from any other source without</p><p>acknowledgement of the source.</p><p>5. No part of this assessment</p><p>has been written by any other person, except to the</p><p>extent of collaboration and/or group work as defined in the assessment.</p><p>6. A copy of the original assessment is retained by me and that I may be required to</p><p>submit the original assessment to the trainer upon request.</p><p>7. I am aware that assessments are completed within a simulated work environment.</p><p>8. I am aware of my appeal rights.</p><p>Student Name Laura Menegat Zanchin</p><p>Date 16/09/2024</p>